Main Street Group LTD Has $448,000 Stake in Philip Morris International Inc. (NYSE:PM)

Main Street Group LTD lowered its stake in Philip Morris International Inc. (NYSE:PM) by 48.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,422 shares of the company’s stock after selling 4,079 shares during the quarter. Main Street Group LTD’s holdings in Philip Morris International were worth $448,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Philip Morris International by 0.4% in the first quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock valued at $12,511,292,000 after buying an additional 481,636 shares in the last quarter. Capital World Investors boosted its holdings in shares of Philip Morris International by 1.5% during the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after acquiring an additional 1,684,992 shares in the last quarter. Capital Research Global Investors grew its position in Philip Morris International by 3.1% during the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after acquiring an additional 1,800,864 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after purchasing an additional 1,856,551 shares in the last quarter. Finally, Northern Trust Corp raised its position in Philip Morris International by 0.6% in the fourth quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock valued at $1,234,963,000 after purchasing an additional 77,820 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Philip Morris International Trading Up 0.5 %

PM stock traded up $0.63 during mid-day trading on Friday, reaching $125.81. The company’s stock had a trading volume of 8,412,610 shares, compared to its average volume of 5,317,667. The company has a market cap of $195.58 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 2.41 and a beta of 0.55. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $127.45. The business’s 50 day moving average price is $113.87 and its 200 day moving average price is $102.23.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. Philip Morris International’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 EPS. As a group, equities analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Bank of America lifted their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays raised their target price on Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $113.70.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.